BANKRUPTCY
DOJ Appeals Against Approval of Voyager-Binance.US Asset Sale
The DOJ has filed an appeal against the approval of Voyager Digital's Chapter 11 bankruptcy plan, which would have allowed the company to sell assets to Binance.US. While U.S. bankruptcy judge Michael Wiles approved the plan, the SEC and other regulators have been critical, citing concerns over securities law. If regulators block the deal, Voyager may have to liquidate.
Digital Currency Group Reports Over $1 Billion Loss Due to 3AC Collapse
Digital Currency Group (DCG) has reported losses of over $1 billion in 2022, largely due to the collapse of Three Arrows Capital (3AC) and falling cryptocurrency prices. DCG's lending arm, Genesis, filed for Chapter 11 bankruptcy in January, as it was 3AC's largest creditor. DCG's fourth-quarter losses came to $24 million, while revenues came in at $143 million. Full-year revenues for DCG came in at $719 million, with total assets of $5.3 billion.
Voyager Digital Sells Assets via Coinbase Amid Bankruptcy
Voyager Digital, the CeFi platform that filed for Chapter 11 bankruptcy, has reportedly sold assets through Coinbase and received at least $100 million in USDC. The company has sent daily crypto transfers to Coinbase, with holdings of nearly $530 million in crypto, including Ether and Shiba Inu. The US SEC has objected to Binance.US acquiring over $1 billion of Voyager's assets.
Voyager reportedly sells assets on Coinbase exchange
Lookonchain showed Voyager using 23 tokens worth over $100 million.
FTX Japan Loses Thousands of Users After Resuming Withdrawals
Over 7,026 FTX Japan members have transferred $50 million in crypto and cash to Liquid.
Binance.US Could Be in Violation of Securities Law
SEC opposes Binance. US acquisition of nearly $1 billion in Voyager Digital assets.
NFTs belonging to bankrupt hedge fund to be sold by liquidators
The liquidators said the "Starry Night Portfolio" of NFTs would not be sold.
Hedge fund Galois Capital shuts down after FTX collapse
Kevin Zhou also wanted to market their bankruptcy claims to experts.
Nishad Singh Negotiating Plea Deal in FTX Bankrupt
The co-founder and former chief engineer of insolvent cryptocurrency exchange FTX, Nishad Singh, is reportedly close to a settlement with federal authorities.
FTX Japan Plans to Resume User Withdrawals in February
On Feb. 17, FTX Japan notified impacted customers to verify their account balances to make withdrawals.
The top Mt. Gox creditor chose to have an early payout in BTC
Mt. Gox creditors may be paid more, but it may take nine years to finalize the bankruptcy procedure.
Bankrupt crypto lender Celsius Network has chosen NovaWulf Digital Management as sponsor
Celsius Network submitted a restructuring plan to a U.S. Bankruptcy Court.
FTX investors file class-action suit against Sequoia
FTX investor class-action lawsuit venture capital companies have a "tricky case," according to a crypto lawyer.
FTX's Physical Assets in the Bahamas
FTX Digital's liquidators bought 52 homes, $2.4 million in cars, and 13 storage facilities, according to an affidavit.
Creditors, Borrowers, and US Trustee Object to Celsius delaying reorganization plan
Celsius received objections from the unsecured creditors committee, Withhold account holders, the U.S. Trustee, and borrowers to extend the restructuring plan deadline.